Finance Watch: Neuron23 Adds $100m To Take First Drug Into The Clinic
With Series C, Start-Up Has Raised $213.5m To Date
Private Company Edition: Westlake Village BioPartners-founded Neuron23 will take the LRRK2 inhibitor NEU-723 for Parkinson’s disease into human testing before the end of 2022. Also, Celsius raised $83m in fresh VC cash and ITM added another €33m to its recent €25m equity financing.
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Private Company Edition: June’s eight $100m-plus venture capital rounds already outpace the seven each raised in March, April and May, including €255m ($274.2m) for ITM and $200m for Upstream, but while there were five $25m or less VC financings during the past week, mid-sized deals were lacking.
The company, which has struggled in the clinic following a deal where Pfizer bought its migraine portfolio, is licensing the dual inhibitor drug from a Chinese firm for up to $970m.
Private Company Edition: In other $100m-plus venture capital rounds, Third Harmonic Bio emerged with $155m, including a new $105m series B round. Also, Europe- and Japan-focused Newton Biocapital launched its second VC fund with €50m in initial capital and a €150m fundraising goal.